Grafcor Inc., a large format printing company, invests $2.03 million to consolidate its Edgewood, Kentucky-based operations to Richmond, Indiana. The company plans to create up to 23 new jobs by 2016.

The company, which is a subsidiary of Ohio-based Innomark Communications, will begin moving screen printing presses and associated equipment from an Innomark facility in Kentucky to its current 40,000-square-foot facility in Richmond where the company operates lithographic printing presses. With the consolidation, which is expected to begin early next year, Grafcor will expand its range of capabilities and streamline its printing services, offering start-to-finish production under one roof.

“Given the existing facility in Indiana and the proactive support from both the state and local economic development groups, the choice was clear,” said Steve Zick, Senior Vice President/General Manager at Innomark Communications. “The low cost of living and the city’s efforts to grow were added incentive for us.”

“There’s a reason why our team has worked with hundreds of companies just this year that have decided to add more quality jobs in the Hoosier State,” said Jim Schellinger, President of the Indiana Economic Development Corporation. “Companies like Grafcor understand that to grow a business, you need a state that balances its budgets, keeps taxes low and invests in its growing workforce. Grafcor found all of that in Indiana, and we’re happy to welcome their out-of-state operations to the Hoosier State.”

The Indiana Economic Development Corporation offered Grafcor Inc. up to $135,000 in conditional tax credits and up to $25,000 in training grants based on the company's job creation plans. These incentives are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. The city of Richmond will consider additional incentives at the request of the Economic Development Corporation of Wayne County.

“Having worked in the printing industry I’m thrilled Grafcor chose Wayne County for their expansion,” said Ken Paust, President of the Wayne County Board of Commissioners. “This project will provide diversity and flexibility not only for them, but for their customers as well. Grafcor is an excellent Richmond company. This is great for Wayne County manufacturing.”

Grafcor is the latest company to announce that it plans to consolidate its operations to Indiana, joining businesses like Illinois-based Hoist Liftruck, Illinois-based Franklin Well Services and Kentucky-based Kellco Precision Machine and Tool.